Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Phemex+1.704%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 1.704% dearer against Phemex than usual: you sell high and buy low (spread +1.704% now, against zero (this spread has no 7-day history yet)): +$170 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex VVVUSDT	32.270	0.0100	pay 0.0050% / 4h	1h 06m	$2.0M	$2.1M	50x
Short	Injective VVV/USDC PERP	32.820	0.0033	get 0.0004% / 1h	6m 38s	$2K	$1K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee InjectivebpOrdersPrice spread, now +1.704%Rate

Funding earned: −$14
Price spread: +1.704% → 0.000%: $170.44
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $144.42
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 5 min ago; Injective: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phemex live order book, 5 min ago	3.11 bp	45.2 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

VVV on 33 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx VVV/USDC	−0.0142%	1h	32.213	−0.178%	$365K	$742K	5x	as long as short
Gate VVV_USDT	−0.0102%	4h	32.239	−0.096%	$12.9M	$5.1M	25x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.217	−0.164%	$140K	$5.4M	1.6x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.237	−0.103%	$86K	$20K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.132	−0.428%	$19K	—	150x	as long as short
Coinbase International VVV-PERP-INTX	+0.0024%	1h	32.127	−0.442%	$168K	$1.3M	25x	as long as short
Injective VVV/USDC PERPshort	+0.0033%	1h	32.820	+1.704%	$2K	$1K	5.5x
Polymarket Perps VVV-USD	+0.0045%	1h	32.231	−0.121%	$88K	$1.4M	3x	as long as short
Lighter VVV	+0.0096%	1h	32.265	−0.015%	$2.0M	$3.8M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.269	−0.003%	$487K	$1.4M	5x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	32.227	−0.132%	$163K	$911K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.281	+0.034%	$75.2M	$43.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.266	−0.013%	$257K	$508K	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.289	+0.059%	$199K	$119K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.267	−0.009%	$33.5M	$98.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.260	−0.031%	$38.0M	$38.2M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.257	−0.040%	$4.7M	$23.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.247	−0.071%	$7.8M	$4.6M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.226	−0.136%	$1.7M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.227	−0.133%	$5.9M	$5.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.253	−0.053%	—	$4.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.120	−0.464%	$2.0M	$345K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.121	−0.461%	$2K	$4K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	32.270	long leg	$2.0M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.226	−0.135%	$3K	$50	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.232	−0.119%	$301K	$1.8M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.232	−0.118%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0116%	4h	32.145	−0.386%	$80K	$320K	10x	as long as short
01 Exchange VVVUSD	+0.0144%	1h	32.236	−0.105%	$12K	$2K	3x	as long as short
BloFin VVV-USDT	+0.0151%	4h	32.246	−0.074%	$1.3M	$1.5M	25x	as long as short
Phoenix VVV	+0.0198%	1h	32.156	−0.353%	$33K	$192K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0355%	1h	32.284	+0.045%	$177K	$256K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0450% / S −0.0219%	1h	32.245	−0.078%	$518K	—	100x	as long as short